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Krispy Kreme on Ponce
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<blockquote data-quote="roedeo" data-source="post: 780591" data-attributes="member: 2624"><p>For a 60+ year old structure they were probably insured at a reduced value, called actual cash value. Ever try to insure an antique or a really old vintage car?</p><p></p><p>Plus they will have to bring everything up to current building codes, some of which may not be covered by insurance. For most complete rebuilds, businesses normally include upgrades, finishes, etc, not covered. And, they may not be permitted (by the city) to have the same large cook/fryer area, without large investment in fire suppression and ventilation systems. And did they buy business interruption insurance to cover employees wages while the business is down?</p><p></p><p>Can the owners cover the gap? Probably. Will they? Let’s hope so.</p></blockquote><p></p>
[QUOTE="roedeo, post: 780591, member: 2624"] For a 60+ year old structure they were probably insured at a reduced value, called actual cash value. Ever try to insure an antique or a really old vintage car? Plus they will have to bring everything up to current building codes, some of which may not be covered by insurance. For most complete rebuilds, businesses normally include upgrades, finishes, etc, not covered. And, they may not be permitted (by the city) to have the same large cook/fryer area, without large investment in fire suppression and ventilation systems. And did they buy business interruption insurance to cover employees wages while the business is down? Can the owners cover the gap? Probably. Will they? Let’s hope so. [/QUOTE]
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